Buyer's Journey With Pre-Owned Vessels
23.06.2021

Buyer's Journey With Pre-Owned Vessels

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Owning a superyacht is the ultimate luxury and adventure. Purchasing a pre-owned vessel begins with the question of budget. This will determine the size range and delivery year available. Besides, boating lifestyle such as how much time will be spent on-board, the number of guests, on-board amenities, travel itineraries and destinations will play a vital role in which vessel will best fit your needs. It is important to highlight that some superyachts that were available for charter have earned a reputation within the yachting industry.

The highly experienced team at Imperial is able to establish a list of potential superyachts that will fit your criteria. Your dedicated broker will conduct a comparative analysis to support the process. Once narrowing your search, a viewing and sea trials will provide you with a notion of the vessel’s overall condition and maintenance. Sea trials will demonstrate maximum speed, power type, noise levels and more. A critical step is having the vessel surveyed and inspected. Verify the results to make sure that you have the right information before moving forward. Your broker will navigate through the paperwork and essential documents to ensure the deal goes smoothly.

Attending yacht shows such as the iconic Monaco Yacht Show gives potential buyers exposure to various options. Chartering before purchasing offers experience at sea. This experience will further your understanding of the kind of vessel you wish to purchase. Be sure to check the safety aspects, facilities and amenities. Moreover, it is always recommended to use a brokerage firm to guide you through this course. Your broker will have first-hand knowledge about the sales market and historic transactions. Imperial’s management skills go beyond brokering. We have full comprehension of finance, legal and operational aspects with devoted departments. This provides our clients with a complete picture of the journey they will embark on when purchasing a pre-owned vessel.

With a pre-owned vessel, it is imperative to know that price is not just imposed by her size. It is also determined by her age and where she was built. Furthermore, you may get more amenities and features for less investment, lower cost of ownership per year, and a reduced amount of risk. As well as the vessel being time-tested. If a shipyard delivered a superyacht that is not quite up to standards, your broker will steer clear of it. The possibility to personalize the vessel through a refit is a great choice for those looking to upgrade. A full refit may take as long as a new build. However, many incremental improvements can be done such as new technology, amenities, interior and more.

Now that you have taken possession of your superyacht, you will soon encounter that you are running a company. There is crew to take care of, insurance, maintenance, fuel and dockage costs. The buyer can negotiate to keep the crew that was with the vessel or to start a new one. One rule of thumb is the annual maintenance and operational costs will be 10%-15% of the boat’s sale price.

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